How long should I keep an ad running, before turning it off?

For facebook ads. I have had a few ads running but was curious on how you know when to turn an ad off, as I think my problem has been turning the ads off too early.

Also, how long is the learning phase?

When can I expect sales if it goes well?

Is it normal that an ad has a higher CPM in the beginning?

I'm thinking of sending people to a price calculator page, is that a good idea? I have seen competitors do it and it worked.

My budget is $35 a day in Denmark for a web agency, where I sell websites.

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